The PUMP token, launching on July 12, is generating considerable interest among traders, with high open interest in its futures.
Expectations for PUMP Token
The PUMP token, which has completed its pre-listing campaign, is gathering significant interest. Although it has not yet launched on the market, its pre-market futures contracts have reached $333.17 million.
Open Interest Dynamics
The open interest for PUMP contracts has reached $120.12 million, with the majority coming from the Hyperliquid exchange, totaling $81.9 million. This indicates a high level of speculative interest in the token.
Market Volatility Possibilities
The high open interest may suggest potential volatility on launch day. If the price falls below the set levels, it could lead to liquidations of long positions and significant price corrections.
The launch of the PUMP token is expected to be a key event in the cryptocurrency market, with high expectations from traders and substantial readiness for volatility.
